You're reading: The Wall Street Journal: Strategists says Ukraine hike shows ‘desperation’

How much worse can things get for Ukraine's financial situation? Well the move on March 3 might help you get the picture. The country's central bank announced that it was jacking up interest rates to a staggering 30 percent from a current 19.5 percent, effective on March 3, as part of a package of measures aimed at stabilizing the country's financial system.

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